Did you know that what’s good for the wallet is also good for the waistline?
People are already falling behind in their New Year’s resolutions to get fit and financially healthy. This health-wealth connection is an innovative approach to improving both your physical and your fiscal health. Today, I am excited about partnering with IALC for a Satellite Media Tour out of Washington DC and talking with people across the country about how to get back on track in these areas.
The biggest obstacle in getting our health and wealth in order:
Not having a plan is the biggest obstacle that prevents people from getting both their health and wealth in order. People need strategies in place to help them remain focused and track progress. For health, some great apps, like Weight Watchers and MyFitnessPal, track intake of calories and fitness progress. For finances, it’s important to utilize calculators that can help you determine risk tolerance, how much they should be saving, etc. My website offers some great calculators on debt and saving. The Indexed Annuities leadership Council also offers great interactive calculators on saving for retirement found at FIAInsights.org.
The In and Out Habit:
If people feel in control of their daily spending and have confidence on their diet and exercise, they will have more energy to put into focusing on other goals, such as fitness. An excellent tool to utilize for both these areas is the “In and Out” habit. It’s important to know what money you have coming in and where it is going out. Once you figure that out, then determine what money can go towards paying off debt, funding a 401k and purchasing retirement savings that will balance your portfolio, like fixed indexed annuities. Having a FIA protects your retirement, ensuring a steady, guaranteed lifetime income that is protected from market volatility.
It’s not too late to get back on track :
The New Year is a great time to look at your finances – not just daily budgeting but long-term budgeting too. I like to say that if you aim at nothing, you will hit it every time. Do you know how much you will need for retirement? Many people are surprised to find out how much they will need to live on later in life. An average couple will spend $240K on health expenses alone in retirement. To find out how much you need to retire, try the Retirement Planning Calculator at FIAInsights.org.
Choose a retirement plan:
When it comes to saving for the future, it’s all about balance. Indexed annuities are a key component of a balanced financial plan. They are uniquely designed to help you moderate risk as they rise when the market increases and protect you from risk when the market falls. This helps to chart your financial future.
What are Indexed Annuities?
Indexed annuities or FIAs are like an insurance plan for your retirement—it guarantees that you will have money in retirement, giving peace of mind by providing a steady, guaranteed lifetime income while protecting you from market volatility. Again, all of this is a part of a balanced portfolio. You can go to FIAInsights.org to read some of my blogs on the topic and to learn more.
Are you ready to have a Leaner Body and Fatter Wallet in 2014?